Emerging Technology and Trend in e-Business: Assignment

Emerging Technology and
Trend in e-Business

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
a) Identify emerging technology or trend in e-business..............................................................3
b) Evolution and development and current status of emerging technology or trend..................3
c) Impacts of emerging technology or trend on e-business.........................................................4
d) Usage and application of emerging technology or trend on e-business with examples.........4
e) Potential business opportunities from technology or trend and discussing potential risks if
any along with recommendations................................................................................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
E-business is the way of buying and selling goods and services online or use of internet
(Laudon and Traver, 2016). With rise in technology, e-business has gain profits and growth in
competitive market. This has made work of consumer more easy and simple for online shopping.
The given assignment is based on Amazon which was founded in 1994 at Washington U.S. It is
multinational technology company that focus on cloud computing, artificial intelligence and e-
commerce. Amazon uses e-commerce payment system for their business while doing payments.
This report covers emerging technology, evolution and development of e-business. It also covers
impact of emerging technology, usage, application and business opportunities of organisation.
MAIN BODY
a) Identify emerging technology or trend in e-business
Amazon uses e-commerce payment system as a technology in their business. It is the
facilitate which accept electronic payment for online transactions that is also known as
Electronic Data Interchange (EDI). This system of payment has widespread due to use of internet
based banking and shopping. Nowadays, consumers do online shopping and make payment
through online mode. This online payment system plays vital role in shaping online business and
facilitating smooth exchange and flow of money as well as goods (Lee, 2013). It is used mostly
by e-commerce sites such as Flip-kart, Myntra, for paperless transactions against goods and
services. There are various benefits which can be provide to Amazon with use of e-commerce
payment system. It helps in saving of time, control of expenses, prevention of theft and loss,
user-friendly and provide convenience.
b) Evolution and development and current status of emerging technology or trend
E-commerce is the effort of man efforts to make work easy and simple for consumers.
Michael Aldrich has introduced technology in 1979 where customers can directly purchase
goods over electronic or phone medium. This innovation leads new way for many individuals
and business to transfer money electronically. As this process was regarded as 100% secure and
purchased happened instantly. Here, Amazon has used e-commerce payment system which was
evolved with the e-commerce. With the internet development, pioneer online development
started to operate in 90s. Standford Federal Credit Union developed first financial institution in
1994 that offered online internet banking services to all people. The first online payment was not

very user friendly and need specialised knowledge of data transfer protocol and encryption. At
beginning major player for e-payment was E-cash, Cyber-coin, Millicent. First online services
used micro payment system and was attempt to implement electronic cash alternatives like
digital cash, tokens, e-money. In this way, e-commerce and payment system technology evolved
and developed in market (5 turning points in the history of e-payments, 2018)
The current status of emerging technology that is e-commerce payment system in
Amazon is increasing in effective manner. This payment system provide opportunity to
consumer to make payment with use of credit card, debit card, smart card, e-money, EFT
(Electronic Fund Transfer). This make work of individual very easy and simple and can purchase
goods from any part of world within single click (Evolution of Digital Payment Industry, 2019).
c) Impacts of emerging technology or trend on e-business
E-commerce is growing in effective and efficient manner for achievement of goals and
objectives. The net worth of e-commerce was $1.9 trillion which was double than previous year.
Many organisation are adopting e-commerce payment system for convenience of consumers and
increase their sales, growth and sustainability. This emerging technology used by Amazon for
their business has provide lots of benefits to organisation as well as consumers (Qin and et. al.,
2013). Making online payment is very easy and simple for consumers as it helps in saving time.
This has increase better consumer experience for online shopping and helps in creating loyalty
towards organisation and use of method by it.
d) Usage and application of emerging technology or trend on e-business with examples
There are various usage and application of e-commerce payment system technology on
Amazon which helps in increment of sales and profit in market. With the use and application of
such technology, consumers expectations can be meet in effective and efficient manner (Pantano
and Di Pietro, 2013). The payment can be done within a second with use of internet to any parts
of world. The effort required for online is very less and make effective for consumers and
organisation. This type of payment system can be used in various industry and field. As amazon
is using for online shopping, similarly, banks can use for depositing of cash and money,
education sector use for payment of fees of students. For example, Amazon has its own
application for online shopping where consumer can place an order through multiple choice and
select best mode of payment as per their convenience such as cash on delivery, debit card, credit
card, and other.

e) Potential business opportunities from technology or trend and discussing potential risks if any
along with recommendations
With help of e-commerce payment system used by Amazon provide various opportunities
to survive in competitive market. This can provide opportunities in terms of growing maximum
profits by providing online experience to consumers which leads to growth in market share.
Apart from, profit, market share and growth, it leads in improvement in their system. There are
different mode of e-payments such as as electronic cash, check share, smart card, internet cash
and others for convenience of consumers (Lim and et. al., 2013). In today's era, people prefer
online more which save their time as well as cost and provide multiple options to select best one.
Though online mode is very easy but it carry risk such as financial, loss of data and information,
failure of payment and others. There are recommendation given to Amazon to improve their
payment mode technology so that data and information of consumers cannot be stole by any
hacker.
CONCLUSION
From above report, it can be concluded that, e-business is the most easiest type of
business performed by many organisation for increasing their sales and revenue in competitive
market. In order to provide online shopping experience to consumers, proper technology should
be used by business. This can leads in achievement of goal and objective of organisation in
effective and efficient manner.

REFERENCES
Books and Journals
Laudon, K. C. and Traver, C. G., 2016. E-commerce: business, technology, society.
Lee, I. ed., 2013. Trends in E-business, E-services, and E-commerce: Impact of technology on
goods, services, and business transactions: Impact of technology on goods, services,
and business transactions. IGI Global.
Lim, C. P. and et. al., 2013. Bridging the gap: Technology trends and use of technology in
schools. Journal of Educational Technology & Society. 16(2). pp.59-68.
Pantano, E. and Di Pietro, L., 2013. From e-tourism to f-tourism: emerging issues from negative
tourists' online reviews. Journal of Hospitality and Tourism Technology. 4(3). pp.211-
227.
Qin, E. and et. al., 2013, July. Cloud computing and the internet of things: Technology
innovation in automobile service. In International Conference on Human Interface and
the Management of Information (pp. 173-180). Springer, Berlin, Heidelberg.
Taneja, N. K., 2017. Driving airline business strategies through emerging technology.
Routledge.
Online
5 turning points in the history of e-payments. 2018. [Online]. Available through:
<https://securionpay.com/blog/5-turning-points-history-e-payments/>.
Evolution of Digital Payment Industry. 2019. [Online]. Available through:
<https://financebuddha.com/blog/evolution-digital-payment-industry/>.